According to the Zhitong Finance App, Universal Entertainment Culture (01046) announced that the Group is expected to achieve a loss of approximately HK$5 million to a profit of about HK$5 million for the six-month period ending December 31, 2023. For the six-month period ended 31 December 2022 (the previous period), the Group recorded a loss of approximately HK$28 million.
The Group's performance in the current period improved compared to the previous period, mainly due to a significant increase in revenue and contributions from the video distribution, film distribution and screening, and film licensing business segments during the period. During this period, the impact of the COVID-19 pandemic on mainland China and Hong Kong, China gradually subsided, and the revenue of new films released by the Group during this period increased significantly compared to the previous period; and due to the appreciation of RMB in the current period, the Group achieved exchange gains of about HK$2.9 million, while the Group experienced an exchange loss of about HK$6.3 million during the previous period.